Gov. Greg Abbott says Texas will revamp economic development program after property tax incentive expires

, who presides over the Senate and bragged last month that he “killed” Chapter 313 in 2021 because it “had been misused.”recent decision by Micron

“We were in running for ... a massive semiconductor manufacturing facility, and we lost to New York for one reason: New York had a better benefits package,” Abbott said. “The CEO of Micron was basically begging me because he really wanted to do business in Texas. ... We gave every penny that we could give, and New York literally offered billions of dollars more that we could not keep up with.”

Under the program, businesses could apply to the local school district for a 10-year discount on their property tax bills in exchange for building or expanding in the community and, in a number of cases, creating new jobs. There was little downside for school districts to approve the tax breaks, because any foregone revenue for public schools was made up for by the state.

Abbott seemed well aware of the program’s tattered reputation Wednesday. He jokingly told business leaders in Arlington that if they are talking with lawmakers this session about the topic, “never bring up the numbers 313. It leaves a bad taste in peoples’ mouth.”

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Gov. Greg Abbott says Texas will revamp economic development program after property tax incentive expiresGov. Greg Abbott told business leaders in Arlington that lawmakers would act to improve the state’s economic development tools, claiming that Texas is already suffering after the legislature let a popular corporate tax-break program expire last year. How many more tax breaks to businesses need? Why does the working class always get screwed by the GOP? Nah. It's the creeping christo-fascism in Texas that's causing businesses to look elsewhere. How bout he start developing the state for it's residents, you know the people that for whatever stupid reason keep voting for him
Source: TexasTribune - 🏆 441. / 53 Read more »

Gov. Greg Abbott says Texas will revamp economic development program after property tax incentive expiresGov. Abbott told business leaders in Arlington on Wednesday that Texas is already suffering from the end of the tax-break program, recently losing a “massive” computer chip factory to New York.
Source: ksatnews - 🏆 442. / 53 Read more »